Astellas Pharma inks a $3 Bln deal to acquire Audentes Therapeutics
Category: #health  By Pankaj Singh  Date: 2019-12-03
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Astellas Pharma inks a $3 Bln deal to acquire Audentes Therapeutics

Japanese pharmaceutical company, Astellas Pharma Inc. has reportedly entered into a definitive agreement to acquire biotech firm Audentes Therapeutics, Inc. at a price of US$60.00 per share in cash, representing equity value of around US$3 billion.

As per reports, Asilomar Acquisition Corp., a wholly owned subsidiary of Astellas US Holding, will initiate a tender offer for all outstanding shares of common stock of Audentes. The tender offer period is supposed to initiate in the next few weeks and would expire in 20 business days after its commencement, unless otherwise extended.

This move would help Astellas in innovating medicines for diseases with high unmet needs by identifying unique combinations of biology along with therapeutic modality or technology based on emerging science.

With this acquisition, Astellas would add a fifth primary focus area along with the four primary investment areas in genetic regulation, in which gene therapy would be the main driver of the company’s future growth.

Kenji Yasukawa, CEO and President, Astellas, was quoted stating that recent technological and scientific advancements in genetic medicine have advanced the potential to deliver sustained and unprecedented value to patients, and even cure diseases with a single invention.

He said that Audentes has developed a robust pipeline of favorable product candidates that are complementary to Astellas' existing pipeline, including its main program AT132 for treating X-Linked Myotubular Myopathy (XLMTM). With Audentes’ talented team, Astellas would establish a leading position in the field of gene therapy to address the unmet need of patients living with rare and serious diseases.

According to Matthew R. Patterson, Chief Executive Officer and Chairman, Audentes, their company is pleased to enter into an agreement with Astellas. With its focus on global network research and innovative science, development and commercialization resources, the company would advance its pipeline programs and serve their patients.
 

Source Credit - https://www.nasdaq.com/articles/astellas-pharma-to-buy-audentes-therapeutics-in-%243-bln-deal-2019-12-02

 

 



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Pankaj Singh

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Pankaj Singh

Pankaj Singh Develops content for Market Size Forecasters, Algosonline, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

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